Sunday, September 22, 2013

Eastwest Bank's Visa Prepaid Card vs. BDO's Cash Card

1. I opened my Eastwest Basic Savings Account because I needed a Visa Card to use online. However, my friend keeps telling me that even if a website is secured, it's still risky to enter my card number especially if all my money is in that account.I was a bit apprehensive to get myself this prepaid card because it'll just add to my collection of cards na walang laman. Buti sana kung may laman!! Hahahaha.

2. I got my BDO Cash Card more than a year ago for the same purpose actually. I needed a card which I can just reload everytime I go out because it's really a risk to carry my ATM card all the time. Yes, it's safer to carry around an ATM card compared to having cash but the fact that all my money in my savings account is always within my reach makes it unsafe for impulsive buys and gluttonous cravings which are the two most dangerous things on Earth.

BDO Cash Card is reloadable using their online banking but you can only reload EWB's Prepaid Card over-the-counter. At dito na sila nagkatalo. I'd stick with my Cash Card because of the online banking feature. The main reason why I use Prepaid Card is to reload the money I need for the day and this isn't at all possible yet for EWB's Prepaid Card. Yet nilagay ko kasi baka magbago sila ng isip. hahaha! It's a hassle to go to the bank to deposit money everytime you need to use the card, isn't it? Andun talaga 'yung convenience of reloading via online fund transfer lang eh saka online banking feature enables you to check how much money a card has free of charge unlike going to the nearest ATM. You'd pay not only for the service fee of the bank but for transportation costs as well.

Now that I think of it, I should have opened another Basic Savings Account na lang because account to account online fund transfer is possible.If only Eastwest Bank can add Prepaid Card Reload in their online banking transactions, that would be great.

10 comments:

Hi I find all your posts about savings accounts very helpful as I, a student, wants to start saving in banks. Thanks a lot! Keep on writing :) (I like your hirits btw, made me laugh. so adorbs!)

I just have one question, I'm having a bit confusion here. Is the Visa (debit) card you applied in EastWest (Basic Savings) also the one you are talking about as the "Prepaid Card"? And if yes, then so you mean to say that the the card you got from EastWest Savings Bank is a debit & prepaid card? I hope I understood you right but if not please enlighten me. :)

No, it's different Naomi, EWB has their prepaid card and it comes with VISA logo in it(re-loadable), then Debit card is a savings account and it also has the logo of VISA that you may use online purchase

It is a debit card, both of them are. It's either debit or credit. Sa debit, the money you put in is your limit. Credit means utang, swipe first, pay later. A checking, savings, and prepaid card, are all debit cards. The difference is sa purpose ng account.

Hi! I'm so glad I found another EWB prepaid card user online! I was just wondering if you ever made an online account for East West and if so, how did you apply your prepaid card as? I wanted to check my balance every now and then because I'm also connecting it to my PayPal account. I can't seem to apply with just a prepaid card!

Hi, Paige! I have an online account for Eastwest but it's only for my Savings Account because like you, the prepaid account won't connect. You might want to consider applying for their Basic Savings Account 'cause that can also be linked to Paypal and Online banking is possible. :)

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